Slowing growth to put rate hikes on hold
- Elevated crude prices would in time hit household consumption and purchasing power
- There is also little respite in terms of GVA, which captures sector-wise contribution
MUMBAI : The outlook on India’s economic growth is gloomy in the near term. In its second advance estimate, the National Statistics Office (NSO) projected India’s GDP growth at 8.9% for FY22. This is a downward revision from the 9.2% economic growth projected in January. Some economists believe there are risks to the latest estimate, too.